The RentCover Report

INDUSTRY NEWS & VIEWS FROM EBM

Landlord escapes costs thanks to RentCoverUltraA New South Wales landlord was thankful he insured his investment property with RentCover after the unit received significant smoke damage as a result of a suspicious fire.

A fire in a vehicle in a carpark below the apartment block resulted in thick smoke filling the unit, causing so much damage it could not be lived in.

EBM authorised the property agent to engage a cleaning contractor as a matter of urgency to prevent any lasting damage.

A final payout approaching $10,000 was made to cover the cost of the clean up, the replacement of damaged contents and, importantly, loss of rent.

This was certainly not your everyday claim and the landlord was really grateful that the policy covered these items.

RentCover General Manager Sharon Fox-Slater said RentCoverUltra was one of the most popular insurance policies for landlords.

“The policy gives landlords the knowledge that their investment is safe and secure even in the unlikely event of theft or accidental or malicious damage,” Ms Fox-Slater said.

“The fact that it also covers loss of rent is particularly important because ultimately it is that rental income that is crucial for many investment property owners.”

RentCoverUltra covers clients against theft and damage to their property to the value of $50,000. It also insures rental properties against defined events such as fire, storm and water damage to contents for up to $50,000.

And should an accident occur on the property, the policy insures the client for legal liability cover to $30 million.

Ms Fox-Slater said RentCoverUltra was very competitive with low excesses, quick claim settlements and the inclusion of protection against accidental or malicious damage.

“Many policies will only cover malicious damage by the tenant but RentCoverUltra pays valid claims for both accidental and malicious damage to both your buildings and your contents.”

The above advice is general advice and has not taken into account your personal circumstances. Be sure to read the appropriate Product Disclosure Statement to ensure the policy meets your individual circumstances.

EBM will provide You with a Financial Services Guide (‘FSG’) to help You decide whether You wish to use the services they offer. Any advice about insurance described in this website is provided for your general information and does not take into account your individual needs. You should always consider the Product Disclosure Statement (PDS) to see if the product is right for you. A copy of the PDS is available here or you can contact us for a copy.